AIR offers data quality-scoring capabilities

AIR Worldwide has added data quality-scoring capabilities to its TruExposure suite of catastrophe models.The data quality scores quantify the potential impact of missing primary risk characteristics on catastrophe loss estimates and indicate where data improvements will have the greatest benefit, an AIR release says. The scores can be calculated for individual locations and at the portfolio level.”Insurers and reinsurers often need to assess the catastrophe risk of portfolios in which a number of the properties’ primary characteristics – location, construction type, occupancy class, age and height – are known or of questionable accuracy,” said Uday Virkud, executive vice president at AIR Worldwide. “TruExposure data scores allow companies to quickly assess and compare the quality of data used for catastrophe risk analyses and prioritize among portfolios – or subsets of locations within a portfolio – where data improvement can have a significant influence on loss estimates.”